Understanding Your Product: Is It a Necessity or a Luxury?

The Dichotomy of Necessities and Luxuries

Products and services can be broadly categorized into necessities and luxuries. Necessities are those that we cannot do without. For instance, if a pipe bursts in your house, you need a plumber. If your child wakes up with a high fever, you need a doctor. These are services that are indispensable.

On the other hand, many products and services fall into the category of luxuries. For example, hiring someone to mow your lawn is a luxury. If the person you usually hire is unavailable, you could do it yourself, albeit with some effort.

It's worth noting that businesses tend to purchase out of necessity about 90% of the time, while consumers perceive their purchases as necessities only about 30% of the time. Often, consumers could perform the service themselves or create the product, but they choose to purchase for convenience.

Tailoring Your Marketing Strategy

Understanding how your customers perceive your product or service is vital. Do they see it as a necessity or a luxury? This perception can significantly influence your marketing strategy and advertising approach.

Necessities should be marketed as affordable solutions to pressing problems, emphasizing your competence and empathy. Luxuries, on the other hand, should be promoted by highlighting how they can enhance the customer's life, saving them time, money, and hassle.

Remember the old adage among advertising professionals: "When your ad stresses everything, you stress nothing." It's essential to focus your sales copy on a few key advantages rather than trying to highlight every single feature and benefit.

Crafting Effective Sales Copy

Many websites list every possible benefit their product or service can offer, resulting in a long list of bullet points. While it's commendable to present features and benefits in an easy-to-browse format, focusing on a few key advantages can be more effective.

People often skim over copy that attempts to highlight every feature and aspect of a product. Overloading your sales copy can lead to information overload for your customers. Instead, identify the top three aspects of your product or service that impress customers the most and focus on these in your sales copy.

For those customers who want all the information they can get, you can provide a comprehensive list of features and benefits on a separate page. This approach ensures that your sales copy remains focused and digestible, without overwhelming your customers.

Leveraging Mass Media for Advertising

Radio and television can be excellent advertising platforms for many small businesses. They offer affordable advertising options and allow you to target a specific audience. Radio stations cater to specific age groups and lifestyles, and the increasing number of cable TV channels offers a wide range of advertising opportunities.

Start by contacting the sales departments of radio and TV stations to inquire about advertising rates and package deals. Once you have this information, you can analyze your audience's demographics and decide whether to position your product or service as a necessity or a luxury. Remember to emphasize the most important points for a better response.